Individual Assessment: Business Analytics

INDIVIDUAL ASSESSMENT: BUSINESS ANALYTICS CASE STUDY
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Individual Assessment: Business Analytics Case Study
Summary
Eswaran Ayer, the Dean school of business Jain University, mentioned that the biggest problem facing the institution is the selection process of the most suitable students (Ganatra and Dinesh Kumar 2014 p. 1). The dilemma in the selection process arises where there is no effective mechanism to determine the students to grant admission and those to reject. The business school (B-school) seeks to admit into the MBA program students who would attain placement successfully while denying the applications of those unlikely to complete the program and attain successful placement. The lack of suitable criteria for selection poses a threat because unsuitable candidates could be admitted while suitable ones rejected, further translating to a reputation problem to the B-school.
B-schools also faced the accusation of producing unemployable graduates. The Association Chambers of Commerce and Industry of India (ASSOCHAM) gave some damning statistics that only 10% of MBA graduates managed to get employed in 2012, a downfall from 54% in 2008, exclusive of the top 20 B-schools in India (Ganatra and Kumar 2014 p. 1). The unemployable nature of the B-schools graduates further translates to low-waged MBA graduates, which is also a major concern for the institutions. It is important to note that the salary of the graduates is vital in determining the rankings of B-schools. The B-schools also faced a steady fall in the number of students applying for the Management Aptitude Test (MAT) and Common Admission Test (CAT) [Ganatra and Kumar 2014 p. 2]. The steady fall even led to the closure of some management institutions.
Business Analytics Techniques
The issues arising in the B-school can be adequately addressed with the use of business analytic tools because of the abundance of data and various entities that can be used as variables in the analysis. The two major analytic techniques that could be used to offset the problems facing the B-school are descriptive and predictive analytics. Descriptive analytics are useful in generating insight from past data with the use of visualization tools like graphs, charts, or dashboards (Kumar 2017 p.10). Descriptive analytics could help provide meaningful insight on the employability of MBA graduates from 2008 through to 2014 with corresponding numbers of graduates. It can also be useful in mapping the trends of student turnout for CATs and MATs over the past years.
Predictive analytics used to predict the nature of occurrence of a future event (Kumar 2017 p.13) is the other useful business analytic technique that could be applicable in mapping future occurrence for the business school. The analytic technique in conjunction with data mining, text analytic techniques, and statistical methods are useful in establishing a relationship in a wide range of data (Wazurkar, Bhadoria and Bajpai 2017). Pr...